Market Commentary

Everyone’s ignoring that PTSB's first dividend since 2008 is more political than profit signal. Yes, yields look juicy, but profits sank 19pc thanks to exceptional costs in “PTSB announces first dividend since crash, as Government gets ready to sell” (Independent.ie). Calling it a bank-sector turning point? That's wishful thinking until the government actually seals that stake sale.

Meanwhile, Funding Circle has already hit FY2026 guidance a full year early, per GlobeNewswire, while Grafton Group saw revenue rise 10% in 2025. These stories scream diversification and disciplined execution, not hype. If your portfolio has only banks and telcos, you're missing out on steady compounding machines.

So here's the play: trim speculative tech chatter, load up on names delivering real results—think Funding Circle’s roadmap or Grafton’s manufacturing rebound—and hedge with covered calls on PTSB or FirstRand. That way, you grab yield and ride underlying growth without praying for a policy pivot.